According to CoinMeta, as reported by bits and media, the Kyrgyzstan government has decided to terminate the USDKG national stablecoin project and has instructed the Ministry of Finance to liquidate its issuer EVA as well as the country's first state-owned cryptocurrency exchange Coin Nomad Exchange. USDKG was launched in November 2025 and was touted as the world's first stablecoin issued by a nation, backed by physical gold, and pegged to the US dollar at a 1:1 ratio. It had an issuance volume of approximately 50 million tokens and was mainly used for cross-border settlements. In May 2026, the UK added the issuer of USDKG to its sanctions list on the grounds of allegedly supporting the Russian government through economically significant transactions. Officials stated that this closure is aimed at optimizing the management of state-owned assets, and holders of USDKG can exchange their tokens for fiat currency or USDT.